Johnson & Johnson (NYSE:JNJ) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Johnson & Johnson (NYSE:JNJ) in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a $215.00 price objective on the stock.

A number of other equities research analysts have also issued reports on the stock. HSBC raised shares of Johnson & Johnson from a hold rating to a buy rating and increased their price objective for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Royal Bank of Canada reduced their price target on shares of Johnson & Johnson from $181.00 to $175.00 and set an outperform rating for the company in a report on Wednesday, April 17th. StockNews.com raised shares of Johnson & Johnson from a buy rating to a strong-buy rating in a report on Tuesday, February 6th. Bank of America lowered their price target on Johnson & Johnson from $180.00 to $170.00 and set a neutral rating for the company in a research report on Wednesday, April 17th. Finally, Morgan Stanley decreased their price target on Johnson & Johnson from $168.00 to $167.00 and set an equal weight rating for the company in a report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $175.86.

Johnson & Johnson Trading Up 0.4 %

NYSE:JNJ traded up $0.64 during midday trading on Monday, reaching $149.22. 300,174 shares of the stock traded hands, compared to its average volume of 7,359,659. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The stock has a market capitalization of $359.12 billion, a P/E ratio of 9.26, a PEG ratio of 2.46 and a beta of 0.55. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. The company has a fifty day moving average of $153.95 and a 200 day moving average of $155.00.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.07. The firm had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. Johnson & Johnson’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.68 EPS. On average, research analysts predict that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.32%. The ex-dividend date is Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is presently 29.68%.

Insider Buying and Selling

In other news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the transaction, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the sale, the executive vice president now directly owns 141,416 shares in the company, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in Johnson & Johnson during the 4th quarter worth $4,071,642,000. Wellington Management Group LLP raised its position in shares of Johnson & Johnson by 16.4% during the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after acquiring an additional 3,391,657 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Johnson & Johnson by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock valued at $2,483,532,000 after buying an additional 241,799 shares during the period. California Public Employees Retirement System boosted its holdings in Johnson & Johnson by 4.9% during the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after buying an additional 498,647 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Johnson & Johnson by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock valued at $1,593,908,000 after acquiring an additional 975,485 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.